HB 2197

Creates Oregon tax subtraction for interest received by financial institutions from loans made for purchase or improvement of agricultural real estate, rural residences and coastal fishing boats.

Status	In House Committee (HREV)
Sponsors	E. Werner Reschke (Republican) (Chief), Anna Scharf (Republican), Bobby Levy (Republican), Gregory Smith (Republican) (Chief)
Fiscal impact	May have fiscal impact, but no statement yet issued
Revenue impact	May have revenue impact, but no statement yet issued

Bill Text

Introduced

Creates a tax subtraction for financial institutions on interest from loans for purchasing or improving agricultural real estate, rural residences, and coastal fishing boats.

Original Bill Text

Sponsors#

Chief Sponsors: E. Werner Reschke

Overview#

Digest: The Act makes a new tax subtraction for banks that loan for rural farms, houses or boats. (Flesch Readability Score: 72.3). Creates Oregon tax subtraction for interest received by financial institutions from loans made for purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Exempts from commercial activity subject to corporate activity tax interest received by financial institutions from loans made for purchase or improvement of agricultural real estate, rural residences and coastal fishing boats. Applies to tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.

Public Testimony

Name	Organization	Position	Date
Bobby Levy	Echo	Support	2025-03-04
Kevin Christiansen	Salem	Support	2025-03-06
Marcia Kelley	Oregon Women's Rights Coalition	Oppose	2025-03-06

Legislative History

Date	Chamber	Action
2025-01-13	H	First reading. Referred to Speaker's desk.
2025-01-17	H	Referred to Revenue.
2025-03-04	H	Public Hearing held.
2025-04-15	H	Informational Meeting held.
2025-06-27	H	In committee upon adjournment.